Thoroughbred Ventures, a Texas-based oil and gas investment firm, announced today the results of their latest oil well project in the Oklahoma STACK and SCOOP Play.
As a non-operated working interest owner, Thoroughbred Ventures partnered with Continental Resources (NYSE: CLR) in September 2016 to drill the Strassle 1-28-33XH Well. The well was drilled to a total depth of 17,873 feet with a true vertical depth of 11,387 feet to test the Mississippian Springer formation in Grady county, Oklahoma.
After being completed in December 2016, the well came online with an initial production rate of 1,117 Barrels of Oil per day along with 807 MCF of Gas. According to Continental Resources, the Strassle 1-28-33XH well was outperforming the company’s historic Springer type curve of 940,000 BOE by 35 percent after 60 days on production.
The STACK (Sooner Trend Anadarko basin Canadian and Kingfisher counties) Play and SCOOP (South Central Oklahoma Oil Province) Play are two of the most active and economically unconventional resource developments in the country. Both are coveted by public companies like Continental Resources, Devon Energy, Marathon Oil and Newfield Exploration. Thoroughbred specializes in identifying, evaluating and acquiring non-operated acreage in these highly desirable areas and providing rights to companies who wish to participate directly in drilling with the publicly-traded operators.
To date, Thoroughbred and its partners have acquired acreage throughout the Oklahoma STACK and SCOOP Plays in Kingfisher, Canadian, Custer, Grady and Garvin Counties.